Africa Oil Corp. T.AOI

Alternate Symbol(s): AOIFF

Energy Oil & Gas E&P

Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria, an interest in the Venus light oil and associated gas discovery, offshore Namibia, and an exploration/appraisal portfolio in west and south of Africa. The Company holds its interests through direct ownership interests in concessions and through its shareholdings in investee companies, including Prime Oil & Gas Cooperatief U.A. (Prime); Impact Oil and Gas Limited (Impact); Africa Energy Corp. (Africa Energy), and Eco (Atlantic) Oil & Gas Limited (Eco). The Company is focused on its Nigerian assets, Namibian Orange Basin opportunity set (Blocks 2913B and 2912), Block 3B/4B in South Africa's Orange Basin, and Equatorial Guinean exploration blocks (EG-18 and EG-31). The Block 3B/4B covers an area of approximately 17,581 square kilometers (km2) within the Orange Basin offshore of the Republic of South Africa. The Company has approximately 17% interest in Block 3B/4B.

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Africa Oil Corp. > Venus Results Imminent

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Comment by Thecamelon Feb 09, 2022 1:19pm

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Post# 34413250

RE:RE:Venus Results Imminent

- AOI owns 31% of Impact O&G
- Impact has a 20% direct interest in the license
- Therefore, AOI has a 6.2% effective interest in Venus

- Venus value (see link below) - the field is estimated to hold 3 billion barrels. IHS values 1 billion barrels with a $70 oil price at US$3.2 billion. At $90/bbl oil price (current), that number increase to $5.3 billion. AOI holds an effective interest of 6.2%; so at current oil prices, the value of Venus to AOI is US$330mm, or C$0.88/share ($5.3B * 6.2% * 1.27 fx)/475m shares). If discovered reserves are 3 billion as indicated, the value would be 3 times that....

https://ihsmarkit.com/research-analysis/what-if-venus-comes-in.html

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